At 20.4% CAGR, the South America Social Media Analytics Market is projected to be worth US$ 1,180.66 million by 2028, says Business Market Insights           

According to Business Market Insights’ research, the South America social media analytics market was valued at US$ 387.95 million in 2022 and is expected to reach US$ 1,180.66 million by 2028, registering a CAGR of 20.4% from 2022 to 2028. Growing importance of social media platforms and increasing demand for business intelligence (BI) are the critical factors attributed to the market growth.              

The increasing competitiveness amongst businesses can be attributed to several factors that differ from country to country. Globalization, rising adoption of Industry 4.0, growing promotional activities, increasing brand awareness, and higher price sensitivity amongst consumers are a few major factors fueling the same. Thus, in a bid to gain a competitive edge, most enterprises have been exploring newer avenues for gaining intelligence on their competitors. Business intelligence (BI) uses different solutions and services to transform gathered data into actionable insights. Traditional BI was mostly restricted to identifying competitors and gathering as much information as possible on them but could not structure, analyze and provide meaningful insights from multivariate data pointers. Social media analytic solutions and services can provide varied BI information. It can aid in identifying competitors, understanding which and how they are utilizing social media platforms, understanding their strategy, compare own social results with competitors, and identifying gaps or threats in social strategy. Additionally, social media analytics can aid performance benchmarking of ad campaigns, understanding appropriate posting time, revealing customers' pain points, and differentiating one’s brand from its competitors. Such benefits have led to a growing demand for gathering BI through social media analytics. For instance, Northern Light Group, LLC aided one of its clients to gain BI by developing and managing a knowledge management platform. Northern Light Business News and 5 other subscription-based market intelligence sources feed data to this platform. Similarly, NapoleonCat, developed by Napoleon Sp. z o.o. have been aiding collectible metal poster e-commerce site Displate (GWD CONCEPT Sp. z o.o.) to analyze their social media performance, connect to newer customers and gather BI on their competitors among others. All such factors collectively have been driving the social media analytics market growth. Several startups, providing social media analytic solutions, have come up in the past few years, again suggestive of the growing importance businesses place on social media analytics. NeenerAnalytics, Catalytics Datum, Astroscreen, ViralStat, and CircusSocial are some prominent startups providing such solutions. CircusSocial raised US$ 1.0 million in 2021 to fund its business activities, suggesting venture capitalists' faith in their solution's demand. The growing demand for BI and social media analytics is promoting the development of several such startups. This is expected to drive the market during the forecast period.

On the contrary, data privacy and security concerns hurdles the growth of South America social media analytics market. 

• Based on component, the South America social media analytics market is bifurcated into solutions and services. The solutions segment held 76.4% market share in 2022, amassing US$ 296.37 million. It is projected to garner US$ 924.76 million by 2028 to expand at 20.9% CAGR during 2022–2028. Further, the component is bifurcated into Professional Services and Managed Services.
• Based on application, the South America social media analytics market is categorized into customer experience management, competitive intelligence, sales & marketing management, and others. The competitive intelligence segment held 32.2% market share in 2022, amassing US$ 124.81 million. It is projected to garner US$ 375.44 million by 2028 to expand at 20.1% CAGR during 2022–2028.
• Based on deployment, the South America social media analytics market is bifurcated into cloud and on-premise. The cloud segment held 73.3% market share in 2022, amassing US$ 284.44 million. It is projected to garner US$ 902.22 million by 2028 to expand at 21.2% CAGR during 2022–2028.
• Based on organization size, the South America social media analytics market is bifurcated into large enterprises and SMEs. The large enterprises segment held 70.2% market share in 2022, amassing US$ 272.52 million. It is projected to garner US$ 811.62 million by 2028 to expand at 19.9% CAGR during 2022–2028.
• Based on vertical, the South America social media analytics market is categorized into BFSI, IT & telecommunication, media & entertainment, retail & e-commerce, and others. The retail & e-commerce segment held 24.8% market share in 2022, amassing US$ 96.30 million. It is projected to garner US$ 301.25 million by 2028 to expand at 20.9% CAGR during 2022–2028.
• Based on country, the South America social media analytics market has been categorized into the Brazil, Argentina, and the Rest of South America.  Our regional analysis states that Brazil captured 65.5% market share in 2022. It was assessed at US$ 254.17 million in 2022 and is likely to hit US$ 784.26 million by 2028, exhibiting a CAGR of 20.7% during the forecast period.             

Key players dominating the South America social media analytics market are Cision Ltd.; Hootsuite Inc.; IBM Corporation; Meltwater N.V.; Oracle Corporation; Qualtrics International Inc.; Salesforce, Inc.; Sprout Social, Inc.; Talkwalker S.a.r.l; and Zoho Corporation Pvt. Ltd. among others.

• In May 2022, Zoho Unifies Marketing Operations with New Platform Driving Business Growth and Improved Customer Experience.
• In Feb 2021, Brandwatch was acquired by Cision.

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